Tuesday, October 20, 2009
The Daily on Shaw
Tune into The Daily on Shaw beginning at 11pm tTuesday until 4pm Wednesday afternoon for a chance to see real estate reporting including a blogger's viewpoint for the first time in Victoria. Did an interview via Google Talk this morning, hopefully the message gets across. Let me know if you see it and how you think it turns out please.
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7 comments:
Can anyone post on YouTube? No TV here...
No TV here either...
Does Shaw stream over the web? Couldn't find a link
Summary,
VREB - says its a good time to buy (Duh).
Financial Adviser - could be a good time to buy. Waffler.
HHV - Voice of reason that we all know.
Credit Counselor - buyer beware. Can you really afford to buy?
A recap of the last couple of days:
Mark Carney (Bank of Canada) "talks sternly" to the Canadian Dollar, and the dollar drops 2 cents in response.
Now we all knew the BoC was not going to raise rates - Right? They said they wouldn't raise rates. They can't raise rates because it will kill any stimulus/momentum they are trying to maintain. So why would the dollar drop 2 cents? I call it a knee jerk reaction. And guess what -- the dollar jumped up as much as 1.5 cents today before finally settling back just under 96 cents.
The BoC has been reduced to "talking sternly". Love it.
Over at Mish's there is a doozie on the "The Death of the 'Soul of Capitalism'" including this warm bath and with razor blades ...
Collapse is now inevitable
Capitalism has been the engine driving America and the global economies for over two centuries. [Mark] Faber predicts its collapse will trigger global "wars, massive government-debt defaults, and the impoverishment of large segments of Western society." Faber knows that capitalism is not working, capitalism has peaked, and the collapse of capitalism is "inevitable."
When? He hesitates: "But what I don't know is whether this final collapse, which is inevitable, will occur tomorrow, or in five or 10 years, and whether it will occur with the Dow at 100,000 and gold at $50,000 per ounce or even confiscated, or with the Dow at 3,000 and gold at $1,000." But the end is inevitable, a historical imperative.
Wow. That is encouraging.
And for those without TV be sure to check out PBS Frontline.
Might I suggest Breaking the Bank and The Warning. And a good chardonnay since I only drink to cope.
Lastly, there is a great article in New York Magazine titled "Tenacious G", here is a little except:
The idea that things might just go back to the way they’ve always been on Wall Street is, of course, infuriating to those who had hoped the financial meltdown would be an opportunity for reform. A few days after Goldman reported its second-quarter profits, Eliot Spitzer, a critic of the AIG bailout, tells me: “If all we are getting are newly empowered and capital-rich hedge funds that benefit from market volatility, then we are not only rebuilding the same edifice, but we’re contributing to the underlying rot in our economy.”
Enjoy.
So, I had a showing at a house today. Was probably one of the best known realtors in town. of course they use these to get buyers. I asked him what he thought of the market.... I didn't get what I expected. He asked about our particulars and then started to talk real economics and trends. He made sure he included the 80s in reference to the risk of buying right now.
I guess all realtors aren't snakes.
omc, there are a number of realtors I have met that will lay out the reality of buying a house in this market, but I find they only talk this way once they have assessed your knowledge on real estate and economics. I am not sure if these same realtors talk to all their potential clients in the same manner.
Often once someone has decided to buy they stay committed to the process even if a realtor provides a little reality along the way.
Looks like party time is on it's last legs. Did you catch Garth stating Victoria is in a "bubble" ? As if we didn't know but so many don't.
From BOC this morning :
"People should manage their affairs prudently in anticipation that at some point rates will return to a more normal level," Bank of Canada governor Mark Carney said at a press conference following the release of the report on Thursday.
"Clearly there are going to need to be adjustments in exchange rate policies in many G20 countries."
Carney also expressed some concerns over rising consumer debt levels, saying it is something the bank keeps a close eye on.
"Consumer borrowing cannot grow faster than the economy forever, to state the obvious," he cautioned.
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